Top buzzing stock for today: TriGen Technology is an IT company that is involved in providing innovative, software solutions and systems integrators. The company offers various innovative products. It also provides software services and solutions according to the needs of the clients. At the same time, this company also undertakes difficult system integration projects, which makes it easier for companies to meet the needs of the client. The market cap of this company is Rs 370 crore. The company’s earnings and net profit have seen a strong growth in the last few years, which are indications that the company’s growth is very strong.
The stock has performed extremely well in the medium term and has given a return of 36.06 per cent so far this year. But its 3-month performance has been very poor with a rate of 5.13 per cent.
Retail investors hold majority stake in this, which is 55 per cent. The rest of the stake is with the promoters. Interestingly, FIIs and DIIs have no stake in this company.
The last few weeks have not been good for this stock as it has seen a lot of downside. The main support of this stock is seen forming in the range of 105-107. Interestingly, its 200-DMA also remains around 107. In this morning’s session, the stock jumped from the 200-DMA and climbed up to about 10 per cent. It has crossed the 20- and 50-DMA and also touched the 100-DMA. This rally has come because of the very strong volume, which shows that people are taking a lot of interest in it. The RSI of this stock has jumped from 43 to 56, which shows a strength in this stock. It is clear from MACD that this stock is now ready to move up sharply. Apart from this, another interesting thing you should know is that its moving averages are very close to each other, which shows that the stock was in consolidation for some time.
Technical parameters show that the stock has regained strength and if it closes above the 100-DMA with strong volumes, the stock may see a strong rally in the coming days. You can add this stock to your watchlist to keep a close eye on the trading opportunities.
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